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Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah was presented the APEC Business Advisory Council (ABAC) report for 2023 from ABAC Brunei Member Hafimi binti Abdul Haadii who is also the Executive Director of LVK Group of Companies yesterday. The report contains ABAC’s recommendations to APEC Leaders developed through ABAC’s 2023 workplan theme ‘Equity. Sustainability. Opportunity’. ABAC identified concrete actions that would advance equity by making it easier for groups with untapped economic potential, including micro, small and medium-sized businesses, women and Indigenous entrepreneurs, to engage in commerce. The recommendations will be presented formally to the APEC Leaders ABAC annual dialogue on November 16 in San Francisco, the United States. ABAC backdrop is one of protracted crisis: a deeply concerning global economic outlook, conflict, and a series of grave challenges – geopolitical, economic, environmental, and financial – continue to confront the region. Emerging technologies and generative artificial intelligence are raising important new concerns about ethical governance, responsible development, and workforce impacts, along with potential economic and productivity gains. Faced with these disruptive forces, the imperative for APEC economies to work collaboratively toward shared goals of promoting equity and sustainability and creating opportunity has never been stronger. ABAC is eager to support these efforts and contribute to the achievement of the Putrajaya Vision 2040. “As part of Brunei’s economic diversification strategy and the desire of the private sector to access more regional and global markets, the Sultanate’s participation in APEC can be greatly enhanced by the ratification of CPTPP alongside the other pathways to Free Trade Area of the Asia-Pacific (FTAAP),” said Hafimi, who is also the Chair of ABAC Inclusion Task Force. “ABAC Brunei’s initiative for ABAC 2023 and in supporting the theme of the Chair on Inclusion has been to work on an Environmental, Social and Governance (ESG) MSME Framework that will support the Sustainability of micro, small and medium enterprises (MSMEs).” “ABAC in 2023 has presented and mobilised several practical recommendations to support the MSMEs, supply chain tool kit; cyber security toolkit and cross border digital trade connect are among a few practical solutions that can be utilised within the APEC region and beyond,” said Hafimi. The goal of ABAC’s recommendations are first to expand equity through well-designed policies and capacity building to overcome the challenges of digital disruption, climate change, pandemics, protectionism, and other destabilising forces such as inflation and increasing supply chain costs faced by the groups with untapped economic potential, including women, MSMEs, indigenous peoples and those from remote and rural communities. Second is to strengthen collaboration to promote environmental sustainability and address climate change. Third is to create economic opportunity by streamlining regulations and increasing access to markets, technology and capital as we make progress towards the FTAAP aligning with meaningful progress in other trade facilitation pathways. ![](https://media.everythingbrunei.com/public/Dl4xLhEDuSCB1YgisFO5K-yPrZe1zD4D6PA36ffHeBp.jpeg) Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah receives the report from ABAC Brunei Chair of Inclusion Task Force Hafimi binti Abdul Haadii. PHOTO: INFO DEPARTMENT

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Brunei Delivers ABAC Report, Pushes Green Growth & Digital Trade

ABAC Urges Decisive Action for APEC Recovery

ABAC Leaders Tackle Protectionism, Push for Women's Empowerment

ABAC Urges Action on Economic Fragmentation

ABAC Calls for Climate Policies that Support Small Businesses

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